IFM Investors Pty Ltd increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,599 shares of the semiconductor company’s stock after purchasing an additional 2,940 shares during the period. IFM Investors Pty Ltd’s holdings in Synopsys were worth $8,078,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. San Luis Wealth Advisors LLC acquired a new stake in Synopsys during the first quarter worth approximately $29,000. Financial Management Professionals Inc. grew its stake in Synopsys by 178.1% in the second quarter. Financial Management Professionals Inc. now owns 89 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 57 shares during the period. MCF Advisors LLC acquired a new stake in Synopsys in the first quarter valued at approximately $40,000. Lansing Street Advisors acquired a new stake in Synopsys in the first quarter valued at approximately $43,000. Finally, Curi Wealth Management LLC grew its stake in Synopsys by 106.8% in the first quarter. Curi Wealth Management LLC now owns 151 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on SNPS. Rosenblatt Securities raised their price objective on Synopsys from $390.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Needham & Company LLC raised their price objective on Synopsys from $380.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. KeyCorp raised their price objective on Synopsys from $445.00 to $455.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Stifel Nicolaus assumed coverage on Synopsys in a report on Wednesday, September 7th. They issued a “buy” rating and a $445.00 target price on the stock. Finally, Bank of America upgraded Synopsys from an “underperform” rating to a “neutral” rating and raised their target price for the company from $325.00 to $360.00 in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.33.
Insider Buying and Selling
Synopsys Trading Down 2.0 %
Shares of Synopsys stock opened at $306.97 on Friday. The business’s fifty day simple moving average is $347.58 and its 200 day simple moving average is $319.59. The firm has a market capitalization of $46.94 billion, a P/E ratio of 46.58, a price-to-earnings-growth ratio of 3.02 and a beta of 1.23. Synopsys, Inc. has a 12 month low of $255.02 and a 12 month high of $391.17.
Synopsys (NASDAQ:SNPS – Get Rating) last issued its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. Synopsys had a return on equity of 18.29% and a net margin of 20.86%. Synopsys’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. Analysts predict that Synopsys, Inc. will post 6.41 EPS for the current fiscal year.
Synopsys declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 1st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.
- Get a free copy of the StockNews.com research report on Synopsys (SNPS)
- The Institutions Hold On To Darden Restaurants International
- What Steelcase’s Earnings Say About the Return to the Office?
- Is The Golden Age Of Homebuilding Already Over?
- These 3 Big Dividend Payers Also Boast Strong Price Growth
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.